AG Barr PLC (LSE:BAG) shares surged over 5% on Tuesday after the soft drinks maker flagged stronger revenue and profit for the year.
Revenue climbed by 5% to around £420 million, AG Barr reported on Tuesday, as its adjusted operating margin saw a “strong” increase to 13.5%.
Profit growth would be in the double digits as a result, the company added, as year-end cash climbed from £53.6 million to £60 million.
All three of AG Barr’s core soft drinks brands, including Irn-Bru, Rubicon and Boost, were said to have performed strongly.
“AG Barr is in line to deliver another year of strong top-line growth, margin improvement and cash generation,” chief executive Euan Sutherland commented.
“These headline metrics highlight excellent progress towards our long-term financial goals.
“We have sustained brand momentum despite the well-trailed wider market pressures, and continue to make good progress towards our margin target.”
Shares climbed 5.5% to 615p on Tuesday.